U.S. Must Spend to Avoid Mini Depression, Gross Says

Discussion in 'Economics' started by ByLoSellHi, Feb 5, 2009.

  1. tradersboredom

    tradersboredom Guest

    interest rates could be historically low and inflation no inflation.

    only way for inflation is growth in GDP and growth in incomes.

    than you wouldn't want to invest in lame bonds etc

     
    #11     Feb 5, 2009
  2. tradersboredom

    tradersboredom Guest

    guys like gross are lucky to making a living managing people's savings accounts.


     
    #12     Feb 5, 2009
  3. Guys and ladies, true story:

    When Sergei Federov first arrived in the U.S. to play for the Detroit Red Wings, after defecting from the former U.S.S.R., and during the time Mike Illitch of Little Caesar's was putting together the Red Wing Dynasty built on the back of Soviet players -

    - he went to the store with his assistant to shop for basic stuff like shampoo and food, and he had a panic attack and had to leave the store in a hurry. He literally could not comprehend or filter the number of brands and filter the choices he had to make. It was overwhelming to him.

    He told Mitch Albom later on that 'in the Soviet Union, we had one shampoo, one soap. No decision making was necessary. Now I had to dedicate time to making choices on the most trivial of things. There were 40 or 50 different shampoos, plus 30 conditioners. It was completely foreign, as if I had landed on a different planet, and it was stressful and overwhelming.'

    It took him years to even find his comfort zone. The whole team would laugh because whent he Soviet players did spend their money, aside from necessities like homes and things like that, it was on bizarre things.


    There is a great book speaking to this dilemna called 'The Paradox of Choice.'

    We don't fully appreciate it because we're steeped in marketing and targeted by advertisers from the moment we emerge into the world.
     
    #13     Feb 5, 2009
  4. wave

    wave

    LOL ByLoSellHi,

    My wife was having a nervous breakdown whenever I sent her out to the stores. It was stressful and overwhelming for her! Good story. Thanks.
     
    #14     Feb 5, 2009
  5. Div_Arb

    Div_Arb

    Good one :p
     
    #15     Feb 5, 2009
  6. Illum

    Illum

    Wish I had that problem. Mine has been going crazy since Christmas. I told her to calm down and to stop going out shopping. Shit started arriving in the mail, daily. lol

    Depression word is starting to show up in the media.
     
    #16     Feb 5, 2009
  7. wave

    wave

    -----------------------------------------------------------------------
    I can't tell you how many "smart" people called me delusional when I was spouting off my worries. All the "experts" are great at seeing things after they have occurred.

    05-28-08 12:05 PM

    I tell you we are going heading for a depression. The S&P will see 1200 and under this year.
     
    #17     Feb 5, 2009
  8. Daal

    Daal

    Gross is talking about his depression. He hates to lag the lehman benchmark
     
    #18     Feb 5, 2009